Carlson acquires majority stake in India venture

5 July 2007

Carlson Wagonlit Travel now holds a majority stake—76 pct—in its Indian joint venture Indtravels Private. Carlson Wagonlit raised its stake by buying a further 26 pct from Indian firm AFL Private, which was hitherto a 50 pct partner.

This joint venture, which holds top position in the Indian business trip market, saw its sales grow from 42 mln usd in 2000 to more than 230 mln usd in 2006, Carlson Wagonlit said in a statement. ——-